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9.6% CAP | Fully Occupied 3-Tenant Retail 347 Sanford Ave 2,495 SF 100% Leased Retail Building Newark, NJ 07106 $599,999 ($240.48/SF) 9.60% Cap Rate
Investment Highlights
- Low-Maintenance Investment – Owner Pays Insurance Only
- 100% Occupied | 3 Tenants
- High-Yield Retail Investment
- Renovated in 2021 with Stable In-Place Income
- Value-Add Retail Asset in Newark Growth Corridor
- Immediate Cash Flow from Day One
Executive Summary
347 Sanford Avenue is a fully occupied, income-producing retail property in Newark, NJ, offering an attractive opportunity for investors. The single-story, multi-tenant building spans 2,495 square feet and houses three units: two retail storefronts and one restaurant, all occupied by great, reliable tenants. Originally built in 1917 and renovated approximately five years ago, the property combines classic character with modern updates. With gross annual rental income of $63,600 and a net operating income of $57,600 (the owner is responsible only for insurance), this stabilized asset delivers strong, dependable cash flow.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Building Size
2,495 SF
Year Built/Renovated
1917/2021
Price
$599,999
Price Per SF
$240.48
Cap Rate
9.60%
NOI
$57,600
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Very walkable
80/100
Moderately drivable
60/100
Some public transit
50/100
Fairly bikeable
50/100
Nearby Major Retailers
1 of 17
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